Retail OTC Derivative Issuers: Financial Requirements
04 Jul 2011
Source: Australia Securities and Investment Commission
Deadline: 4 July 2011
The Australia Securities and investment Commissions is seeking feedbacks from stakeholders on a set of proposals on the financial requirements to apply to issuers of over-the-counter derivatives to retail clients presented in this consultation paper.
More specifically, the ASIC looks for feedbacks on its proposal 1) to require rolling 12-month cash flow projections to increase the visibility of cash flow issues in a ‘business as usual’ situation; and 2) to change both the quantum and liquidity of the financial resources requirement by requiring a minimum level of net tangible assets (NTA) that must be held in liquid form and pairing this requirement with a reporting framework which encourages issuers to maintain adequate financial resources.
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